Sainsbury's opens its books for takeover

Published: 23 July, 2008

The proposed takeover of Sainsbury's by Qatari's Delta Two moved a step closer today when the supermarket group opened up its books to the bidding team.

Paul Taylor, adviser to Delta Two, said: "We have a high regard for the management and employees of Sainsbury's and we are supportive of their operational strategy, including plans for substantial investment in the Company."

Tony Campbell, former deputy chief executive of Asda, will become non-executive chairman of Sainsbury's if Delta Two's offer goes through.